Growth in this market is driven by the increasing number of surgical procedures, growing number of regulatory approvals, increasing incidence of sports-related injuries and spinal ailments, and rising focus on effective blood loss management in patients during surgeries. In addition, the emerging markets and growth in the number of hospitals and surgical centers are expected to offer further growth opportunities for players operating in the hemostats market. On the other hand, high cost of hemostats and dearth of skilled professionals are expected to hinder the growth of this market.

The hemostats market is segmented into thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, combination hemostats, gelatin-based hemostats, and collagen-based hemostats. Of all these product segments, the thrombin-based hemostats segment is expected to account for the largest share of the global hemostats market in 2018. The large share of this market segment can primarily be attributed to the wide range of advantages associated with the use of thrombin-based hemostats.

The hemostats market is segmented neurological surgery, cardiovascular surgery, general surgery, orthopedic surgery, gynecological surgery, reconstructive surgery, and other surgeries. The orthopedic surgery segment is expected to account for the largest share of the hemostats market in 2018. The growing geriatric population, increasing incidence of sports injuries, and the growing prevalence of lifestyle disorders (such as arthritis, osteoporosis, and obesity) are some of the major factors responsible for the growth in the number of orthopedic surgeries performed globally. The growing number of orthopedic surgeries is in turn expected to support the growth of dependent markets, such as the hemostats market for orthopedic applications.